Think of the end before the beginning.
—Leonardo da Vinci
In 1954, Sol Price, a young lawyer, opened a discount store. Everything went well until he discounted bottled alcoholic beverages. He was threatened with jail and hit with a major lawsuit from the alcoholic beverage industry. He fought back and survived a hurricane of lawsuits. He narrowly escaped jail, but he won against all odds and built a $300 million chain of stores called FedMart. In 1974, he sold the chain with the agreement that he and his sons would continue as top executives. Within a year, the new owner fired them.
Price felt betrayed. Nevertheless, ...